Reported about 1 month ago
Former President Donald Trump presented his economic policy proposals during a recent speech, highlighting Tesla CEO Elon Musk's potential role in spearheading government reform initiatives. Trump aims to sway key swing state voters as he campaigns for election, with insights shared by Yahoo Finance's Rick Newman in a discussion on Trump's policy platform.
Source: YAHOO
Reported about 1 month ago
US stocks experienced volatility as investors reacted to disappointing labor market data, raising concerns over economic health and interest rate cuts. The S&P 500 fell 0.3% while the Dow dropped over 200 points. The upcoming jobs report for August is highly anticipated, as weaker results could prompt the Federal Reserve to consider significant rate cuts. With mixed signals from the market, trading remains cautious as analysts await clearer economic indicators.
Source: YAHOO
Reported about 1 month ago
LL Flooring, previously known as Lumber Liquidators, is set to liquidate after filing for Chapter 11 bankruptcy and failing to secure a buyer. The company, which operates around 200 stores, announced the closure process will commence on September 6, with store closing sales starting the same day. Customers with existing appointments will have their orders fulfilled within 30 days, but new installation appointments will be halted. The liquidation process is expected to take approximately 12 weeks, with some stores closing sooner.
Source: YAHOO
Reported about 1 month ago
Amazon has filed a lawsuit against the U.S. labor board, alleging illegal interference in a union election at its New York City warehouse and claiming that the board's structure is unconstitutional. The suit seeks to prevent the National Labor Relations Board from enforcing the results of a 2022 election where a union won, which Amazon argues was improperly influenced. This legal action follows similar challenges from other companies against the board's processes.
Source: YAHOO
Reported about 1 month ago
C3.ai's stock fell by 8% following the release of its first-quarter fiscal year 2025 results, which showed subscription revenue that missed expectations by 7%. Despite strong professional services revenue, analysts expressed concerns about the volatility in the company’s subscription model. C3.ai's CEO defended the quarter's performance, highlighting significant year-over-year growth, but investor scrutiny remains high in the AI sector.
Source: YAHOO
Reported about 1 month ago
Changing careers can be daunting, as it often means starting from scratch in a new industry. However, skills gained from previous experiences can be invaluable assets in your new journey. On the podcast 'Living Not So Fabulously,' hosts David and John discussed insights from TV producer Michael Selditch, who transitioned from architecture to Hollywood, emphasizing the importance of leveraging past knowledge. The podcast features diverse voices from the LGBTQ+ community, offering practical advice to help listeners navigate their financial challenges.
Source: YAHOO
Reported about 1 month ago
As investors grow confident that the US economy will achieve a soft landing, concerns are emerging about the underlying vulnerabilities, including rising unemployment and high earnings expectations. Michael Darda from Roth Capital Partners warns that the current economic indicators might not be as stable as perceived, suggesting potential market corrections ahead, particularly after fluctuations observed in tech stocks and a recent uptick in unemployment rates. With volatility expected to remain high, caution is advised for investors navigating these choppy waters.
Source: YAHOO
Reported about 1 month ago
Tesla plans to launch its Full Self-Driving technology in China and Europe in the first quarter of 2025, but is awaiting regulatory approval. Experts indicate that this launch could significantly impact Tesla's operations and future robotaxi service.
Source: YAHOO
Reported about 1 month ago
Nio's shares surged after the electric vehicle maker reported a 98.9% year-over-year revenue increase for Q2, reaching $2.46 billion, while also narrowing its expected losses per share. The company's vehicle deliveries hit a record high, despite previous declines in August, though Nio's stock remains down nearly 48% year-to-date.
Source: YAHOO
Reported about 1 month ago
Former President Donald Trump detailed his tariff proposals at the Economic Club of New York, arguing for economic nationalism and the importance of high tariffs on imports, particularly from China. He hinted at potentially raising tariff rates close to or above 60%, claiming these measures would combat inflation rather than cause it, despite concerns about their potential economic impact. Trump also introduced various other economic initiatives, including reducing corporate tax rates and cutting government red tape.
Source: YAHOO
Reported about 1 month ago
Hewlett Packard Enterprise (HPE) is experiencing a drop in shares despite exceeding third quarter earnings expectations, partially due to cyclicality in its networking business. HPE CEO Antonio Neri highlighted strong revenue growth in AI but noted a decline in overall gross margins. He emphasized a disciplined approach towards pricing and operating expenses as the competition heats up in the AI market. Neri also discussed the anticipated benefits of HPE's upcoming acquisition of Juniper Networks, which is expected to dramatically enhance HPE's networking revenue and margins.
Source: YAHOO
Reported about 1 month ago
Red Lobster is preparing to exit Chapter 11 bankruptcy after a judge approved its reorganization plan, which includes the acquisition by a lender group led by Fortress. Following significant losses and restaurant closures, the chain aims to operate about 544 locations in the U.S. and Canada post-bankruptcy, down from 578 at the time of filing. A new CEO has been appointed along with a commitment of over $60 million in funding as the company seeks to revitalize its operations.
Source: YAHOO
Reported about 1 month ago
The Biden administration is scrutinizing the frequent-flyer programs of major US airlines, focusing on how point values are altered and the increasing number of points required for flights. Transportation Secretary Pete Buttigieg has requested reports from American, Delta, Southwest, and United airlines regarding their loyalty program policies. The investigation aims to ensure transparency and fairness, as consumers express frustration over rising point costs and limited redemption options.
Source: YAHOO
Reported about 1 month ago
The White House has called on major tech companies like Amazon, Google, and Microsoft to provide discounted server bandwidth for U.S.-funded VPN services, which have become crucial for internet users in heavily censored countries like Russia and Iran. The demand for VPNs has surged, particularly following shifts in government funding aimed at circumventing censorship in authoritarian states. The Open Technology Fund reported that the monthly users of their supported VPN services have quadrupled, highlighting an urgent need for resources to stabilize this growing user base amidst rising censorship challenges.
Source: YAHOO
Reported about 1 month ago
A Russian court has frozen the shares of Raiffeisen Bank International's local branch, preventing any sale of the business as tensions between Moscow and the West escalate. Despite the court's decision, the bank maintains that its operations will not be affected and plans to contest the ruling. Raiffeisen is crucial for international payments in Russia and has nearly 2,600 corporate clients. The European Central Bank has been urging the bank to reduce its Russian presence, which has surprisingly become increasingly profitable since the start of the Ukraine conflict.
Source: YAHOO
Reported about 1 month ago
A whistleblower has accused Bank of America of sharing nonpublic information with select investors prior to a $200 million stock sale for clients in India. While the bank claims to have found no evidence to support these allegations and asserts that they take such complaints seriously, the incident raises concerns about illegal insider trading practices.
Source: YAHOO
Reported about 1 month ago
U.S. Treasury Secretary Janet Yellen stated that despite a recent slowdown in job creation, the U.S. labor market remains healthy. Although the unemployment rate reached a three-year high of 4.3% in July, Yellen noted it is still historically low. Upcoming data is expected to show further easing in the unemployment rate, while private payrolls revealed the lowest hiring levels in over three years, indicating a potential slowdown. However, Yellen emphasized that the economy and labor market continue to show solid growth.
Source: YAHOO
Reported about 1 month ago
US stocks exhibited volatility as investors reacted to disappointing labor market data, with the S&P 500 falling 0.3% and the Dow Jones Industrial Average dropping more than 200 points. A report revealed the smallest monthly hiring growth since January 2021, intensifying concerns about the economy and interest rate cuts. The tech-heavy Nasdaq fluctuated before ending slightly up, while traders await the impactful jobs report scheduled for release on Friday, which could influence the Federal Reserve's policy decisions.
Source: YAHOO
Reported about 1 month ago
Red Lobster has announced that it will soon come out of bankruptcy protection after receiving court approval for its sale, indicating a positive turnaround for the seafood chain.
Source: YAHOO
Reported about 1 month ago
Dollar Tree and its rival Dollar General have reported disappointing earnings, with both companies missing Wall Street estimates for the summer quarter. Despite attracting higher-income customers in the past, Dollar Tree's CEO warned that recent macroeconomic pressures such as inflation and rising interest rates are having a negative impact on purchasing behavior among these consumers. Consequently, analysts have adjusted their price targets for Dollar Tree downwards, expressing concerns about profitability and competition in the budget retail sector.
Source: YAHOO
Reported about 1 month ago
The US government has expressed concerns regarding Nippon Steel's proposed $14.9 billion takeover of US Steel, warning it could pose national security risks by potentially disrupting the supply of steel vital for transportation and infrastructure projects. The Committee on Foreign Investment in the U.S. (CFIUS) stated that the deal might reduce domestic steel production capacity, impacting national security requirements. While Nippon Steel emphasized its commitment to investing in US Steel facilities, CFIUS remains skeptical about the long-term implications for the US steel industry's viability and strategic interests.
Source: YAHOO
Reported about 1 month ago
The August jobs report, set to be released on Friday, is anticipated to be a crucial indicator of the U.S. labor market's condition, which could impact the Federal Reserve's decision on interest rate cuts. Analysts expect nonfarm payrolls to rise by 165,000 and the unemployment rate to drop to 4.2%. Recent economic data suggests a cooling labor market, leading to speculation that a weaker report could prompt a more substantial 50 basis point rate cut in September. Furthermore, concerns remain about how a negative jobs report might affect stock market performance.
Source: YAHOO
Reported about 1 month ago
Raiffeisen Bank International AG announced that a Russian court has frozen the shares of its subsidiary, complicating its efforts to sell or divest from the business. The court's injunction is linked to a legal case involving Rasperia Trading. Despite this setback, Raiffeisen stated that it will continue to manage its operations and serve clients in Russia while challenging the court's decision.
Source: YAHOO
Reported about 1 month ago
The Federal Reserve announced its initiative to gather feedback on its 'discount window,' which serves as a crucial emergency lending facility for banks during periods of financial distress. The feedback will address various operational aspects, including legal documentation, collateral management, and credit extension processes, as the Fed aims to enhance the effectiveness of this tool. Despite its potential benefits, many banks have historically hesitated to use this facility due to concerns over stigma. The public has 90 days to submit their comments on these operations.
Source: YAHOO
Reported about 1 month ago
C3.ai's stock dropped 12% after the company reported lower-than-expected subscription revenue for the first quarter of fiscal year 2025, sparking concerns among investors. Despite a 21% year-over-year growth in total revenue, subscription revenue of $73.5 million came in 7% below predictions. Analysts noted increased scrutiny as the market shifts focus on companies experiencing challenges amid the AI hype.
Source: YAHOO